Property value increases in Lenah Valley have tracked just higher than the TAS average of 3.72% over the last 12 months.
While Lenah Valley,7008 ranked number 34th in TAS for increase in median house value (annualised) increase, it is ranked 39th over the last 5 years.
Property investors looking for a bargain in Lenah Valley should be aiming for at least -7.57% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Lenah Valley being $451000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 4.50%
At number 1481th in the list of Australian suburbs ordered by increase in median house value over the last year, Lenah Valley, 7008 is in the BOTTOM 20% with a property value increase of -6.69% recorded in median house prices.
A -5.02% growth in median value for property investors in Lenah Valley,7008 puts this suburb at number 48th in terms of best performing suburbs in TAS
LACK OF BUYER INTEREST may well be the reason that Lenah Valley is offering property investors an average of -5.48. This rate of discount on properties puts Suburb at number 8th in terms of most discounted suburbs in TAS
Lenah Valley is 30th on a list of best yielding suburbs for rents in TAS with a 5.64% return
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary
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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.